ZINC
HIND ZINC 🐥🐥Tested crucial level.
Will take a good move from here.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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Nice weekly breakout#Hindzinc
****THIS TRADE IS AN IDEA GIVEN TO ME BY MY MENTOR KRISHNAKUMAR****
Gave nice breakout on daily and weekly charts today.
Although this weeks chart is not completed yet, but taking risky entry utilizing partial funds as it has given breakout on daily charts after 3 years.
Will add more if it dips to retest breakout.
Also, it is forming nice channel pattern.
///Kindly trade as per your own analysis. ///
Hindustan ZincHIND ZINC (NSE CASH)
CHART ANALYSIS
LTP: 309.85
SUPPORT: 305.25 (309.01 ACCORDING TO 20 DEMA)
RESISTANCE: 321.90 / 329.30
RISK TO REWARD RATIO IS APT
RSI IN DAILY CHART IS IN A STRONG UPTREND AND IS ABOVE THE 50 MARK IN OTHER PERIODICALS
329.30 LOOKS LIKE A BREAKOUT LEVEL WHICH MEANS THAT THE CHARTS WILL MAKE NEW HIGH ONCE IT CROSSES AND TRADES ABOVE 330
CHART IS IN AN UPTREND (15M) SINCE 6th MAY AND LOOKS LIKE THE UPTREND WILL CONTINUE
OI NA AS THIS SCRIPT IS NOT PRESENT IN NFO
MARKET CAP: 1.253T (ABOVE 200B / VERY GOOD)
VOL: 7.838M (ABOVE 500K / VERY GOOD)
REL VOL: 2.16 (ABOVE 2 / VERY GOOD)
AVG VOL: 2.153M (ABOVE 100K / VERY GOOD)
FLOAT: 222.945M (BELOW 2B / VERY GOOD)
***BUY FOR MEDIUM TERM TARGETS OF 329+ AND CAN ALSO BE A LONG TERM PART OF YOUR PORTFOLIO
A clear Breakout in Zinc SectorChart clearly shows that a clean Breakout is bound to happen in the coming days with Resistance got tested several times and has got weaken in the same process. Volume too supporting the trend. RSI is at 62 levels so there is a good chance that this breakout will gonna give a good profit opportunity.
Tinplate at FingertipS💰💰✔✔ Buy @ 160-69 range
trgt 192💚210💚257
sl below 145🤨🙏
Reasons for this buy
🧩🧩technically promising chart.
🧩🧩good q3 & q4 published.(Tinplate Company of India standalone net profit rises 107.08% in the March 2021 quarter)
🧩🧩Y-O-Y profit increaing gradually even the previous pandemic.
🧩🧩low debt company,therefore they offer good dividend returns
🧩🧩Current price is less than the intrinsic value
📍📍almost good but one factor disappointed me .In last 2 years, promoter holding in the company has almost stayed constant.📍📍
day frame chart👇👇
✔ about the company
💢The Tinplate Company of India Limited is a producer of tin coated and tin free sheets. The Company manufactures various grades of electrolytic tinplates, tin-free steel sheets and full hard cold rolled sheets (FHCR) used for metal packaging💢
like 🎈 comment🎈 support🎈
MCX Zinc Will Touch 240 level by EWTHere's the daily chart of the MCX zinc. It has made two Elliott waves. The first one is bearish, and the second one is bullish. The bearish was started from the 11th of April 2019 and ended on the 19th of March 2020. The bullish one started on the 19th of March 2020, and the fifth wave of this Elliott wave is remaining. In the Elliott wave theory, each wave has five sub-waves.
Short-term investors can see the following levels soon: 228 - 234 - 240
Will zinc return at a strong support trendline?Zinc took a bounce back from the lower levels yesterday, and it has failed to break last week's low level of 212.1 . Intraday traders can initiate long positions for levels of 219.6 - 220 .
If it breaks last week's low, we may see 210 - 208.6 levels. Overall, it's positive. Long positions can be initiate with targets at 221.6 - 224 - 230 in extension.
The DMI & MA is bullish and calls for further advance.